Arriba Capital (Arriba) successfully closed a $585,000 loan for a tax service company located in Las Vegas, NV. Arriba's client, who was currently leasing the property, executed a purchase option which required an expedient closing. Our client had a significant amount of money at risk, which required Arriba's expertise and banking relationships to successfully close the loan in a timely manner.
Challenge: Arriba's client had a number of residential foreclosures from 2010-2011, thus weakening his credit score. The low credit score along with a tight closing time frame made this a difficult transaction.
Solution: Arriba Capital underwrote the deal based on the strength of the clients real estate and business, not his personal credit score. Arriba was able to structure a 25-year loan priced at Prime + 275.